The Co-Investment Fund and Tourism Development Fund are one of the largest foreign investors for Georgia. The holder of those companies is registered in Panama and is owned by Bidzina Ivanishvili. The Fund has implemented several large projects since 2013, but now the fund is thought to have come out of several projects.
The fund intends to sell following projects in the nearest future: Galleria Tbilisi and Hotel Paragraph in Shekvetili. Slightly later, Axis Towers by 2022-2023, the fund owns 39% of the company. The PF sells fully loaded trading center at 130 million USD. Tsotne Ebralidze, head of the Fund, noted that interested investors already exist.
“This year has been a very good year for this project, we have achieved many important goals. The hotel was completed and opened in May. An office space has also been opened since July. The shopping center has passed the 100% load. Next year another office space will be put into operation and thus the project government, so we have begun active negotiations to get out of this project. We have talks with various investors. I will refrain from naming them, but I can say that there are locals and foreigners as well”, said Tsotne Ebralidze.
